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I think in 10-15 it will be completely different. I mean I give that mall 2 years before there's at least a publicly acknowledged plan of what's to come. I'd like to believe that CBL is intentionally letting the mall decline so that they can demolish the majority of it for redevelopment without having to worry about tenants.
It's in too prime of a location to not do something with.
This is also what I've heard - that new developers come in, create a 'prime' center and charge very high rents...then slowly rents drop, the location declines, and it's sold to a different management company....and the process continues until the property exists in the state of CTC. Then <hopefully> a new development plan revitalizes it, and the cycle starts over.
Certainly that isn't always the case, but after someone told me about that process, it does seem to follow what I've seen elsewhere..
That does happen often, but it's not the only way. Look at Crabtree. They have shown over and over they will do what is needed to be a premier property. Honestly, I wouldn't be horribly shocked to see them announce something in the next few years regarding more expansion or renovations.
That does happen often, but it's not the only way. Look at Crabtree. They have shown over and over they will do what is needed to be a premier property. Honestly, I wouldn't be horribly shocked to see them announce something in the next few years regarding more expansion or renovations.
Me either. Crabtree have time and again shown that they are willing to keep innovating with keeping their mall modern in the face of changing shopping habits. Which is key for them. They can't afford to let things slide and get dated.
I feel the place needs to be a place where an aging local population can easily park and walk-in for a blood lab, colonoscopy, a nice choice of meals and some housing, like the Lofts at Park West.
Also, include a fitness center that accepts seniors' SilverSneakers membership cards.
Maybe even bring in a Hobby Lobby! Or, a great Wolf Lodge indoor water park for their grand kids.
I am assuming you are being serious and I agree with the viability of turning the property into something that caters to an aging population. Not a retirement home (so yesterday), but a real dynamic self sustaining retirement community; a town within a town. I suggested this in writing to the Imagine Cary "Board" after I attended an information session in which they encouraged feed-back prior to the town's adoption of the Imagine Cary Plan. Specifically, I gave Southern Village in Chapel Hill as a "mixed use" example of residence mixed with shops, cafes, grocery store, pharmacies and medical clinics. It makes total sense given the issues identified by the town in the Imagine Cary Report:
1. Cary's population is aging.
2. What to do with struggling retail properties around town.
Southern Village in CH is awesome...it's like a little European town or Sesame Street. I am nowhere near retirement and my wife and I have discussed how nice it would be to live there....with our kids even. I think it is open to all ages but it is elder heavy (with all the health care clinics so convenient/walkable and the hospital up the road).
Was there today, dreary, more shops closing, including that great pastry shop whose name I've forgotten since we were there last - does anyone know where they went?
Was there today, dreary, more shops closing, including that great pastry shop whose name I've forgotten since we were there last - does anyone know where they went?
You're thinking of Kader French Bakery. No idea if they're going to reopen elsewhere though.
Well that's awesome. They're going to get way more business than the mall location. So many apartments nearby, State down the road, right by downtown, and extremely visible to everyone coming/going on Hillsborough.
Good for Kader's, I think they have a good product and wish them the best. Dying malls are becoming a national phenomenon. https://www.bloomberg.com/view/artic...s-you-are-rich. Cultural changes? Demographic shifts? Amazon (online retail)? Probably a combo.
This particular dying mall has been on TOC's radar for awhile and they seem motivated to do what they can about it. Recognizing the problem is the first step. According to the Mayor's recent blog, his meeting with the town manager included discussion about redeveloping the mall. Harold’s Blog: Local Lab, Dreamfest and More – CaryCitizen So, I think they acknowledge it is going to require more than a few minor tweaks. I hope the mall propery owners and managers realize this too.
Maybe they do; after all, we are all waiting for the mall executives to "show their hand" and announce that "very recognizable in-demand national retailer" they claim to have "waiting in the wings". http://www.bizjournals.com/triangle/...zable-and.html
IMHO, if it ain't IKEA then we're going to continue to hear a lot of crickets chirping.
Is there anything new on Top Golf?? I really wanted them to come somewhere to the Triangle. I hope the Cary NIMBY's didn't scare them away from triangle as a whole
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